With federal tax reform highly likely and international tax reform working in the background, state tax reform may be close behind.
It is definitely an interesting time to be working in the tax field. With new ideas and new perspectives, we are most assuredly closer to change than we have ever been. If we have learned anything about change, is that change requires 'us to change.' We must be open to new ways of thinking, but we must also be involved. Stay informed. Speak up. Play a part.
Liz Malm at Multistate Associates, Inc. has written 3 recent posts in their Multistate Insider publication that you have to read if you are curious at all about what will happen with multistate taxes in 2017.
First, "Tax Issues to Watch in 2017: Taxation of Services." According to the post, the sales taxation of services could be seriously debated in 16 states during the upcoming state sessions. The post provides a great explanation, recap and overview of all states as its relates to the sales taxation of services.
The second post you must read is "State Tax Policy in 2017: What to Expect." The post covers some of the biggest policy trends impacting multistate taxation. Trends that grew in strength in 2016, and may get even stronger in 2017, such as: sales tax nexus, sales taxation of services, short-term rental taxation, tangible personal property taxes, combined reporting and apportionment changes, tax havens, general rate increases and elimination of exemptions and deductions, and last but not least, questions surrounding what the state tax fallout will be from federal tax reform.
Third, find out what the National Conference of State Legislatures is thinking by reading "NCSL Tax Task Force Meeting Spots Emerging Issues for 2017."